lease agreements in Beaver County

Hi. Im new to the forum and have a few questions on what people are getting per acre lately in Beaver County. Im a land owner in Raccoon township just off of green garden road. I have 90 acres. I've been approached bu Range resources to extend my lease agreement. They want to offer me 1000.00 an acre and 17%. Is this the going rate now for this area? I've heard of people holding out and the companies have came back a year later with a much less offer.

Views: 1753

▶ Reply to This

Replies to This Discussion

Permalink Reply by mike on January 11, 2013 at 3:02pm

Terms $1,000.00 a year or ?  17% net or gross ?

Permalink Reply by Brian on January 11, 2013 at 3:09pm
1000.00 per acre and 17% royalties
Permalink Reply by Brian on January 11, 2013 at 4:29pm
I completely understand your point. I just didn't know if that was the going rate or they were low balling me. They just bought the property next to me for a pipeline to go thru. They paid 80k for for that and it's only a few acres. Others around me signed leases for 2500-3100 just at the end of summer early fall. They weren't interested in my property a that time because i still had time on my lease.
Permalink Reply by Jason on January 11, 2013 at 6:26pm
Brian - according to range resources 3rd quarter investor information - almost ALL of beaver county is super rich >1350 btu gas. Although we are in the Utica fairway of dry gas - there is Wet gas here. I'm on my phone or I would post the image.
The others who have replied are correct - hold out a while as things are still just getting started.
Make sure you check out the Beaver County forum on this website. The members here are awesome with sharing knowledge and information - good and bad.
My property is in Hanover Twp BC and we leased through a large group To Chesapeake. Whatever you do - don't be in a hurry. Best of luck.
Permalink Reply by Brian on January 11, 2013 at 10:39pm
Jason please post this information when you get a chance. Where else should I be reading to get more information about my area? I don't know where to get any of this information and when it's released. Thank you, I really appreciate the help and info
Permalink Reply by Jason on January 12, 2013 at 1:23am
Brian - on the right hand side of this web page near the top click on local groups. You can search for the Beaver County site or look through all of them (they cover 3-4 states) to find the group. You will then have to "join the group" which is very easy once you find the group.
And if you click onto my name it will take you to some info on me like a
Few of my "Go Marcellus Shale friends"
You should follow follow both Craig and Jim. Craig lives up near Chippewa but has his ear to the ground.
Jim is an area man who provides very good advice. I have no affiliation with either of them however both are very wise.
A guy on here named Jack Straw has great insight as well. His posts are must reads in your spare time.
Ill get that pic up as soon as possible for you.
Permalink Reply by Al Rodgers on January 11, 2013 at 10:52pm

Joe How do you know its net and not gross?  Just wondering since you're responding to someone else's post. 

Permalink Reply by craig on January 12, 2013 at 7:00am

Chesapeake right now is trying to extend leases 5 yrs for $200-$300/ acre which isn't going to accepted by most folks I know.

As others have said, wait unless you need money now.

You can also find the Beaver County group by clicking on States, then Pa, the Beaver County.

You should really post BC questions there, as more local folks will read it and possibly reply.

Welcome Aboard!

Thanks for the kind words Jason, however I'm just trying to collect info and then getting real information out there for folks. We all are in 'learning' mode and will be for awhile.

RSS

© 2024   Created by Keith Mauck (Site Publisher).   Powered by

Badges  |  Report an Issue  |  Terms of Service